the double entendre doesn't work. He's horny because he has horns. I guess he could be horny if he didn't have love, but it could also be inferred that he doesn't want love.
I do like the toad by itself though. maybe you could drop the horns and have it humping something funny, like a rock or a tennis ball, or something green.
I like the image without the text or no-heart icon. The devil horns and tail are enough to sell the joke which is actually waaay more classy than i'd ever expect out a visual pun from horny toad! Nice work.
About my design
-H